Booking direct with Disney, cancellation policy?

[Danauk]

Origionally we were going to be booking our trip using DVC points but now I am uncertain if we will end up booking this way. I was thinking of booking the room direct with Disney now anyway. So if we did change and book using DVC points what is their cancellation policy? Do I have to pay a deposit when I book? Also is there a cancellation fee? All our previous on site trips to any Disney place have always been booked through DVC so I have never actually booked a room at Disney myself before! This is all new to me!
Thanks

 

[JDel]

If you book with disney online, I believe there is a 200.00 deposit and you may have to purchase insurance to get that deposit back(?). If you book over the phone, there is no deposit-- they just need a valid credit card to hold it and you have to cancel 72 hours in advance or you get charged one night.

 

[Danauk]

Thanks for the quick response, I'll book over the phone then. We will know way before we go if we are going to use points and need to cancel. It's good to know we can do that without a penilty.